Salesforce gave third quarter revenue guidance in the range of $2.11 billion to $2.12 billion, slightly lower than the $2.13 billion analysts were expecting. Still, it raised the full year revenue guidance to the range of $8.275 billion to $8.325 billion.

Deferred revenue, an important metric for cloud companies that show future revenue growth, came in at $3.82 billion, up 26% year over year. That's at the low-end of the 26% to 28% deferred revenue growth forecast Salesforce gave last quarter, which could be a concern for investors going forward.

"Clearly, the street is accustomed to Salesforce performing better than expected, but it seems quite clear that currency had a notable impact on calculated bookings," market research firm Stifel's Tom Roderick told Business Insider.

Salesforce president Keith Block said there were "softnesss" at the end of the quarter, particularly in the US market, as well as unfavorable foreign-exchange-rate changes that affected its overall business during the earnings call. He didn't further explain whether the softness was coming from increased competition or the broader spending shift, but stressed he's confident things will turn around by the end of the year.

"At the end of the day, what I would boil this down to is it's just a bit of blocking and tackling...I feel very positive about our second half. Our pipeline is strong, our win rates were very strong in the quarter, our level of engagement has never been stronger," Block said during the call.

This is the first time Salesforce crossed $2 billion in quarterly revenue. The company also continued to expand its profit margins, an area it's been paying closer attention to, reporting $229 million in net income.

Sales Cloud, the company's largest revenue driver slowed its growth to just 13% year-over-year, but the rest of the businesses kept up their robust growth rates.

Here's a breakdown of Salesforce's four largest businesses:

Sales Cloud: $754.9 million (up 13% year over year)

Service Cloud: $575.4 million (up 29% year over year)

App Cloud and Other: $353.4 million (up 43% year over year)

Marketing Cloud: $202.4 million (up 28% year over year)

Salesforce has been on a buying spree lately, spending roughly $4 billion on acquisitions this year alone.

Some investors have raised concerns around the company's buying strategy, as CEO Marc Benioff is reported to have tried to even outbid Microsoft's $26 billion offer for LinkedIn at one point.

Salesforce shares have remained roughly flat after announcing its $2.8 billion Demandware acquisition in June. Its stock jumped about 30% over the past 2 years, and almost 9X over the past decade.